FBN General Insurance Limited has announced the appointment of Babatunde Mimiko as Executive Director.

In a statement by the company, the Managing Director, Bode Opadokun, said Mimiko brings on board 18 years career across the financial services industry including a short stint in banking.’’

He is no doubt an ideal fit to help our business to the next level. I am delighted to have him join us at this important growth stage in the life of FBN General Insurance Limited’’, he added.

Mimiko began his insurance career at WAPIC Insurance in 1999 as Assistant Superintendent (Underwriting). From there, he moved to the then Intercontinental Bank (now Access Bank) as Product Manager – Consumer Banking Group. At Intercontinental Bank, he was responsible for developing, marketing and management of all the retail banking products of the bank.

In 2003, he re-joined WAPIC Insurance as Branch Manager of its Port Harcourt office. He went on to spend the next 10 years of his professional career rising through various top management positions until he left as Controller in 2013. Prior to his appointment as Executive Director at FBN General Insurance, Mimiko was Managing Director of Ensure Insurance.

Mimiko is a Fellow of the Chartered Insurance Institute of Nigeria (FCII) and an alumnus of the prestigious Lagos Business School of Pan Atlantic University. A strategic and analytical mind, he is an MBA (Financial Management) holder from Lagos State University…Read More
Culled from The Nation

FBN General Insurance said its gross premium rose by 17.4 per cent to N2.2bn in the 2016 financial period from N1.8bn in 2015.

According to a statement from the firm on Sunday, its claim expenses also rose by 24 per cent from N205m to N270m in the year under review.

The firm said this financial performance was a reflection of the shrewd management efforts at expanding its client base, excellent underwriting capability as well as increased customer acceptance of the brand.

The Managing Director/Chief Executive Officer, FBN General Insurance, Bode Opadokun, said insurance could only thrive on trust.

He said, “You will agree with me that payment of claims is perhaps the best way for an insurance company to demonstrate it is worthy of the customer’s trust. That we paid more claims this year than the last shows our customers trust us more and are willing to allow us to bear more of the risks they would normally bear themselves.

“This lends credence to the widely known fact that we are not just a responsible insurer, we are responsive and committed to our policyholders’ well-being at all times.”

According to details of the audited account approved by the National Insurance Commission, the company’s total assets rose by 11.9 per cent to N6.1b in 2016, from N5.3bn in 2015.

Opadokun said, “In a year where economic uncertainties badly affected many companies’ asset base, we were able to increase ours by almost N1bn. This is an indication of our strength in depth arising from a solid heritage and consistent investment in quality staff.”

Acquired in 2014, FBN General Insurance is a wholly-owned subsidiary of FBN Insurance Limited, an FBN Holdings company associated with the Sanlam Group SA…Read More
Culled from The Punch